Shangfeng Cement announced that Yuexin Semiconductor, in which it has invested through a private equity investment fund jointly established by its wholly-owned subsidiary Ningbo Shangrong Logistics Co., Ltd. and professional institutions, had its IPO application for the ChiNext Market accepted by the Shenzhen Stock Exchange on December 19, 2025. As of the announcement date, Shangfeng Cement indirectly holds approximately 1.4957% equity in Yuexin Semiconductor.
